Complete the following using the present value formula or financial calculator. (Do not round intermediate calculations. Round your final answer to the nearest cent.) Amount desired at end of period $ Length of time 20,000 20 years Rate Compounded 8 % Annually Period used 20 Periodic rate 8% PV of amount desired at end of period

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter7: Exponents And Exponential Functions
Section: Chapter Questions
Problem 69SGR
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Complete the following using the present value formula or financial calculator. (Do not round intermediate calculations. Round
your final answer to the nearest cent.)
Amount
desired at
end of period
$ 20,000 20 years
Length
of time
Rate
Compounded
8 % Annually
Period
used
20
Periodic
rate
8 %
PV of amount
desired at
end of period
Transcribed Image Text:Complete the following using the present value formula or financial calculator. (Do not round intermediate calculations. Round your final answer to the nearest cent.) Amount desired at end of period $ 20,000 20 years Length of time Rate Compounded 8 % Annually Period used 20 Periodic rate 8 % PV of amount desired at end of period
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